The Canadian Index

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July 2026

Line chart tracking the TSX Composite's intraday movement on July 10, 2026 after a stronger jobs report.

The TSX dipped to an intraday low near 35,168 shortly after this morning's stronger-than-expected jobs report before recovering through the…

Employment Beat the Forecast by Nearly Double Today. The Bank of Canada's Path Did Not Move.

July 10, 2026

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Line chart showing Canada's unemployment rate falling to 6.5 percent in June 2026.

June's jobs report added 18,200 positions, nearly double the Street's forecast of 10,000, pulling the unemployment rate to its lowest level since January.

Employment Beat the Forecast by Nearly Double Today. The Bank of Canada's Path Did Not Move.

July 10, 2026

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Step chart showing the Bank of Canada's overnight rate holding at 2.25 percent for a fifth consecutive decision.

The Bank of Canada has held its policy rate steady through five consecutive decisions, its longest pause since the current cutting cycle…

The Last Number Before the Bank of Canada Goes Dark

July 10, 2026

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Chart comparing Canada's combined small business tax rate by province, showing Ontario's rate falling in 2026.

Ontario cut its small business corporate tax rate from 3.2% to 2.2% today, lowering the combined federal-Ontario rate on the first $500,000…

Ontario's Small Business Rate Just Dropped, and the Real Planning Question Is Dividend Timing

July 10, 2026

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Line chart showing Canada's unemployment rate holding in a narrow range from June 2025 to May 2026.

Canada's unemployment rate has stayed within a narrow band for a full year, a stretch spanning five months since a widening Middle East conflict began dominating headlines.

The Availability Heuristic Is Louder Than the Jobs Report

July 10, 2026

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Line chart tracking the TSX Composite's daily close from June 22 to July 9, 2026, showing a round trip through two similar-sized single-day moves, closing near 35,171.67.

The TSX Composite's two-week path shows a market reversing itself almost as quickly as it moved.

The TSX Round Tripped in Two Days. The Bond Market Did Not.

July 9, 2026

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Chart tracking five of seven assets reversing from Wednesday's close to Thursday midday trading, with Canada's 10-year yield holding steady, July 2026.

A broad selloff hit equities, oil, and gold together on Wednesday, triggered by an escalation in trade tensions that rattled risk sentiment across markets simultaneously.

The TSX Round Tripped in Two Days. The Bond Market Did Not.

July 9, 2026

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Line chart showing the S&P/TSX Composite Index falling to 34,935.80, down 336.79 points, from June 2 to July 8, 2026.

A single headline about Iran drove Wednesday's 0.95% decline, but the index moved as two markets at once rather than one.

The TSX Fell 337 Points Wednesday While Its Own Energy Sector Rose Nearly 4%

July 9, 2026

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Chart tracking same-day percentage moves across twelve asset classes, including energy stocks and gold, following a July 2026 tanker attack in Hormuz.

The moves followed an attack on tankers in the Strait of Hormuz, a revoked U.S.

The Chain From a Tanker Attack in Hormuz to a Four Percent Day for TSX Energy Stocks

July 9, 2026

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Line chart tracking the Bank of Canada overnight rate target at 2.25% through each fixed announcement date from January 2025 to July 2026, marking five consecutive holds.

This chart tracks the Bank of Canada's overnight rate through each fixed announcement date, showing five straight holds at 2.25% since late October 2025.

Markets Priced a Bank of Canada Hike at 40% on Tuesday. By Wednesday It Was 60%.

July 9, 2026

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Bar chart comparing the lowest provincial tax bracket rates across all 13 Canadian provinces and territories for 2026, highlighting BC's rise from 5.06% to 5.60%.

British Columbia's 2025 budget raised the province's lowest tax bracket rate from 5.06% to 5.60% for 2026, applying retroactively to…

British Columbia's Payroll Tables Just Changed Mid-Year. Nowhere Else Did.

July 9, 2026

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Line chart showing WTI crude oil climbing from about $66.95 on June 24 to $74.40 by July 9, 2026, amid escalating strikes on Iran.

WTI crude has climbed to $74.40, up 11.1% since June 24, as the U.S.

The Strikes on Iran Got Bigger Overnight. The Market's Reaction Got Smaller.

July 9, 2026

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